"Congress must get rid of, or extend out to, perhaps, 2029, the ridiculous Debt Ceiling. Without this, we should never make a deal. Remember, the pressure is on whoever is president," hewroteon Truth Social. Fiscal conservatives in the House have balked at the notion of raising or suspe...
A debate over the debt ceiling is at the center of a dispute over funding that is pushing the possibility of a federal government shutdown to the brink in Washington.
As America's government hits the debt ceiling, US politics has become a multi-trillion dollar game of chicken. If neither side backs down, America could default on its debts for the first time in history, sparking global economic turmoil. What is the debt ceiling, and how can this crisis ...
Reminder, the debt ceiling is the limit on the amount of money the US federal government can borrow to pay its bills. And those bills will be coming due pretty soon, around mid-January. When the US hits the debt limit, it can't borrow anymore. That's when the Treasury Department will...
What is the Debt Ceiling and Why Does the Government Keep Raising It?
What is the debt ceiling? The debt ceiling is a cap on the amount of money the U.S. government can borrow to pay its debts. Every year, Congress passes a budget that includes government spending on infrastructure, salaries for federal workers and programs such as Social Security...
"If Congress doesn't raise the debt ceiling, the president will have to make some decisions about what to do with the resources we do have, and there are a variety of different options, but there are no good options. Every option is a bad option." But what is the debt ceiling, ...
The debt ceiling is the maximum amount of money that the United States can borrow cumulatively by issuing bonds. The debt ceiling was created under the Second Liberty Bond Act of 1917 and is also known as the "debt limit" or "statutory debt limit." If U.S. government national debt levels...
What Is the Debt Ceiling? This change gave rise to the debt ceiling or debt limit, a ceiling on how much the U.S. Treasury can borrow set by Congress. If government spending, which is also approved by Congress, is greater than tax revenues, then the debt ceiling must be increased or ...
If you've ever wondered what exactly the debt ceiling is, you're not alone. Here's what it is and some of the real-world impacts it can have.